https://www.taxtmi.com/caselaws?id=197853 Railway overloading charges are treated as compensatory commercial levies, not payments for an offence or prohibited conduct, so they are deductible and not hit by the Explanation to section 37(1). Section 14A disallowance is not sustainable where the assessee has sufficient interest-free own funds to cover exempt investments, and the rule 8D administrative limb applies only to investments yielding exempt income. Net present value paid for forest clearance is revenue expenditure where it is a compulsory statutory charge incurred to continue mining operations and does not create a new capital asset or enduring advantage. en-us Wed, 05 Apr 2017 00:00:00 +0530 Wed, 17 Jan 2018 11:59:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197853 Railway overloading charges are treated as compensatory commercial levies, not payments for an offence or prohibited conduct, so they are deductible and not hit by the Explanation to section 37(1). Section 14A disallowance is not sustainable where the assessee has sufficient interest-free own funds to cover exempt investments, and the rule 8D administrative limb applies only to investments yielding exempt income. Net present value paid for forest clearance is revenue expenditure where it is a compulsory statutory charge incurred to continue mining operations and does not create a new capital asset or enduring advantage. Case-Laws Income Tax Wed, 05 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197853